BigBear.ai Awarded Prime IDIQ Contract for U.S. Department of Navy's SeaPort Next Generation (NxG)

MCLEAN, Va.--(BUSINESS WIRE)--BigBear.ai (NYSE: BBAI), a leader in AI-powered decision intelligence for defense and national security, has been awarded a prime Indefinite Delivery/Indefinite Quantity (IDIQ) contract under the U.S. Department of Navy’s SeaPort Next Generation (SeaPort NxG) program. SeaPort NxG serves as the premier contracting platform for the U.S. Navy, streamlining the procurement process for technical, engineering, and professional services. This multiple-award prime IDIQ contract enables BigBear.ai to provide innovative technologies and mission-critical support to the U.S. Navy and other federal agencies. “BigBear.ai is proud to build AI-powered solutions for the U.S. Department of Defense and federal agencies,” said Kevin McAleenan, CEO of BigBear.ai. “This award reflects our continued dedication to our Nation’s defense efforts, and we are honored to contribute our capabilities to the critical missions of the U.S. Navy.” BigBear.ai will be in a position to provide systems engineering, process engineering, and specialized technology solutions under the SeaPort NxG contract, reinforcing its reputation as a stalwart industry partner of the defense community, and demonstrating its ability to meet the U.S. Navy's evolving mission requirements. BigBear.ai’s expansion in this domain builds upon previous and ongoing naval initiatives, including (but not limited to) the development of AI for advanced autonomous surface vessels (ASV), computer vision for maritime situational awareness, and AI-powered digital twins and asset management for shipbuilding. To learn more about SeaPort NxG, visit https://www.navsea.navy.mil/Business-Partnerships/SeaPort-NxG/. About BigBear.ai BigBear.ai is a leading provider of AI-powered decision intelligence solutions for national security, digital identity, and supply chain management. Customers and partners rely on BigBear.ai’s artificial intelligence and predictive analytics capabilities in highly complex, distributed, mission-based operating environments. BigBear.ai is a public company traded on the NYSE under the symbol BBAI. For more information, visit https://bigbear.ai and follow BigBear.ai on LinkedIn @BigBear.ai. To receive email communications from BigBear.ai, register here. Forward-Looking Statements This press release contains “forward-looking statements.” Such statements include, but are not limited to, statements regarding the intended use of proceeds from the private placement and may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political, and legal conditions; risks related to the uncertainty of the projected financial information (including on a segment reporting basis); risks related to delays caused by factors outside of our control, including changes in fiscal or contracting policies or decreases in available government funding; changes in government programs or applicable requirements; budgetary constraints, including automatic reductions as a result of “sequestration” or similar measures and constraints imposed by any lapses in appropriations for the federal government or certain of its departments and agencies; influence by, or competition from, third parties with respect to pending, new, or existing contracts with government customers; our ability to successfully compete for and receive task orders and generate revenue under Indefinite Delivery/Indefinite Quantity contracts; potential delays or changes in the government appropriations or procurement processes, including as a result of events such as war, incidents of terrorism, natural disasters, and public health concerns or epidemics; and increased or unexpected costs or unanticipated delays caused by other factors outside of our control, such as performance failures of our subcontractors; risks related to the rollout of the business and the timing of expected business milestones; the effects of competition on our future business; our ability to issue equity or equity-linked securities in the future, and those factors discussed in the Company’s reports and other documents filed with the SEC, including under the heading “Risk Factors.” More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the SEC, including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise, except as required by law.

BigBear.ai Awarded Prime IDIQ Contract for U.S. Department of Navy's SeaPort Next Generation (NxG)

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